Hardman Johnston Global Advisors LLC Lowers Stock Position in Vertex Pharmaceuticals Incorporated $VRTX

Key Points

• Hardman Johnston Global Advisors LLC reduced its holdings in Vertex Pharmaceuticals by 8.3%, resulting in ownership of 108,225 shares valued at approximately $48.2 million.
• Institutional investors collectively own 90.96% of Vertex Pharmaceuticals, with notable increases in shares by firms like Clal Insurance and American National Bank.
• Wall Street analysts have varied ratings for Vertex, with a consensus price target of $493.81 and ratings reflecting a mix of hold, buy, and strong buy.

Hardman Johnston Global Advisors LLC cut its holdings in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 8.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,225 shares of the pharmaceutical company's stock after selling 9,855 shares during the period. Vertex Pharmaceuticals accounts for about 2.1% of Hardman Johnston Global Advisors LLC's holdings, making the stock its 15th biggest position. Hardman Johnston Global Advisors LLC's holdings in Vertex Pharmaceuticals were worth $48,182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Activest Wealth Management acquired a new position in Vertex Pharmaceuticals in the first quarter valued at $25,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Vertex Pharmaceuticals by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 55 shares of the pharmaceutical company's stock worth $27,000 after buying an additional 45 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Vertex Pharmaceuticals during the first quarter worth about $32,000. American National Bank & Trust grew its holdings in shares of Vertex Pharmaceuticals by 515.4% during the second quarter. American National Bank & Trust now owns 80 shares of the pharmaceutical company's stock worth $36,000 after buying an additional 67 shares during the last quarter. Finally, SJS Investment Consulting Inc. lifted its position in Vertex Pharmaceuticals by 46.2% during the 1st quarter. SJS Investment Consulting Inc. now owns 95 shares of the pharmaceutical company's stock worth $46,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 90.96% of the company's stock.

Insider Buying and Selling

In related news, Director Bruce I. Sachs acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The stock was purchased at an average price of $389.68 per share, for a total transaction of $1,948,400.00. Following the transaction, the director owned 45,000 shares in the company, valued at $17,535,600. This trade represents a 12.50% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on VRTX. Canaccord Genuity Group decreased their price objective on Vertex Pharmaceuticals from $424.00 to $411.00 and set a "hold" rating for the company in a research report on Wednesday, August 6th. Morgan Stanley set a $439.00 price objective on shares of Vertex Pharmaceuticals and gave the company an "equal weight" rating in a research note on Tuesday, August 5th. Evercore ISI dropped their price objective on shares of Vertex Pharmaceuticals from $510.00 to $475.00 and set an "outperform" rating on the stock in a research note on Thursday, September 11th. BMO Capital Markets set a $530.00 target price on shares of Vertex Pharmaceuticals and gave the company an "outperform" rating in a report on Tuesday, August 5th. Finally, Leerink Partnrs raised shares of Vertex Pharmaceuticals from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $493.81.

Vertex Pharmaceuticals Price Performance

VRTX stock opened at $408.85 on Friday. Vertex Pharmaceuticals Incorporated has a 12 month low of $362.50 and a 12 month high of $519.88. The company's 50 day simple moving average is $400.44 and its 200-day simple moving average is $443.73. The firm has a market capitalization of $104.83 billion, a PE ratio of 29.22 and a beta of 0.43.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last posted its earnings results on Monday, August 4th. The pharmaceutical company reported $4.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.24 by $0.28. Vertex Pharmaceuticals had a return on equity of 23.91% and a net margin of 31.86%.The firm had revenue of $2.94 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the company earned ($12.83) EPS. Vertex Pharmaceuticals's revenue was up 11.3% on a year-over-year basis. Vertex Pharmaceuticals has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.

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